Energy Investing - April 14 Contango & VLCC Spot Rate - Energy Investing - InvestorVillage


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Msg  267396 of 342663  at  4/14/2020 4:19:43 PM  by

tobinator00


April 14 Contango & VLCC Spot Rate

Today oil contango 1 year out is a very stout $16.88.  The front end fell almost $2 and the future month was up a little.  At this level, I estimate VLCC's can get up to $80,000/day for a full year storage contract.  This is a very profitable level particularly considering the ship only as to fill up oil at spot, anchor for 50+ weeks and then deliver to the buyer.
 
High contango certainly had to have contributed to the VLCC spot price today of $195,700.  The spot VLCC is from:  https://www.tradewindsnews.com/tankers/
 
The data presented is as of 4 PM EDT.
  
 
 
 
 


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267399 Re: April 14 Contango & VLCC Spot Rate unit 951 0 4/14/2020 4:28:49 PM


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